An indicator of U.S. economic activity rose in October, suggesting an improving pace of economic expansion ahead.
The Conference Board said Thursday its Leading Economic Index rose 0.6 percent to 124.1 in October. Analysts polled by Thomson Reuters forecast that the index would rise by 0.5. That is compared to a dip of 0.2 percent in the previous month.
"The U.S. LEI rose sharply in October, with the yield spread, stock prices, and building permits driving the increase," said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board.